NEW YORK, Oct. 11, 2016 /PRNewswire/ -- Adhesives are substances applied to one surface or both surfaces of two separate items that binds them together and resists their separation. The term 'adhesives' is used interchangeably with glue, cement, mucilage, or paste.
Adhesives accounted for only for XX% of the chemicals market in 2015. Its low share was due to limited usage of adhesives products compared to other products associated with the chemicals industry. Adhesives are not used in the same bulk in manufacturing as some other materials such as plastics.
Asia was the largest geographic market in the adhesives market in 2015, accounting for $XX billion or XX% of the global market. Asia is the largest market because of its large population and economic growth. Europe was the second largest geographic market, accounting for $XX billion or XX% of the global market. Americas was the third largest geographic market, accounting for $XX billion or XX% of the global market.
Global per capita adhesives consumption grew from $XX in 2011 to $XX in 2015 at a CAGR of XX% and is expected to grow to $XX in 2019 at a CAGR of XX%. Per capita consumption is increasing because of an increase in the development and consumption of specialized adhesives for manufacturing and construction industries.
Adhesives companies are developing new adhesives to cater to the needs of various industries. The various types of adhesives being developed are pressure-sensitive adhesives, pre-cut layered adhesive films and stick-to-skin adhesives. Pressure-sensitive adhesives are used in HVAC (heating, ventilation and air conditioning) duct work, automotive assembly and sound/vibration damping films. Pre-cut layered adhesive films that address vibration and noise concerns save time in assembly. Stick-to-skin adhesives are used in monitoring and drug delivery devices.
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